Mumbai: The Sensex on Monday closed 17 points up in lacklustre trade as investors adopted a cautious approach after recent gains and ahead of IIP and inflation data releases later this week.

The BSE benchmark index, which had gained 437 points in last three sessions, shuttled between 17,810.90 and 17,728.12 before ending 17.13 points higher at 17,766.78.

Sun Pharma, Bharti Airtel, CIL and Tata Steel were among the 15 winners in 30-share Sensex, gaining in 1.6-2.6 per cent range. Selling was seen in 14 stocks including Jindal Steel, Bhel and SBI. Sterlite Industries remained unchanged today.

"IIP data will be announced on Sep 12 and inflation numbers will be out on 14th. During the same time, the US Fed will conclude its FOMC meeting. This meeting is closely eyed by market participants across the world," said Milan Bavishi Head Research, Bonanza Portfolio.

Brokers said some investors also booked profits at existing levels amid worries over further delay in fiscal reforms that might restrict RBI from lowering interest rates.

A better global trend, however, continued to support the domestic shares. The broad-based NSE index Nifty edged up by 4.75 points to 5,363.45, after touching high of 5,375.45.

"Nifty has shown smart recovery from its 50-EMA level after the ECB’s positive outcome on bond-buying program was announced. However, it'll continue to face stiff resistance near 5400-5450 level in coming sessions," said Nidhi Sarswat, Senior Research Analyst, Bonanza Portfolio.